National Infrastructure Bank
A National Infrastructure Bank (Bank) could help leverage billions of private-sector dollars that could be invested in critical nationally or regionally significant infrastructure projects.
A National Infrastructure Bank could be successful if these basic concepts are considered:
- Establish the Bank as an independent entity with the greatest flexibility to finance and fund only projects of regional and national significance.
- The Bank should not follow the GSE model nor be housed at the U.S. Department of Transportation
- Allow the Bank to fund projects beyond just transportation such as drinking and wastewater, electrical grid, levees, dams, ports, broadband and other critical infrastructure.
- Enable merit-based selection of projects by experts so that the most critical and feasible projects proceed by employing benefit-cost analysis methods.
- Ensure federal assistance at a significant enough scale to make these major projects financially viable.
- Ensure that the Bank has the authority to employ a range of finance and funding tools such as credit assistance, low interest loans, tax incentives, Build America Bonds, Private Activity Bonds, enhanced TIFIA authority, and others to be determined.
- Create a method for leveraging public investments with private capital while ensuring adequate protection of taxpayer dollars.
- Establish clear performance measurement standards such as completing projects on time and within budget, reducing traffic delays for passengers and goods movement, reducing carbon emissions, and improving safety.
- Provide project expediting capability by eliminating redundancies to speed completion of projects while still ensuring the environment remains protected.
- Ensure rigorous oversight and audit authority by establishing an Inspector General position, require regular reports to Congress, and publish all data on a website that is available to the public.
The Bank could initially be capitalized with $25–50 billion from the General Fund with other potential sources of funding that could include:
- Re-appropriated funds of earmarks that have not been expended.
- Re-appropriated funds realized from elimination of wasteful or redundant programs.
- A multi-year, reformed transportation bill.
- Private sector investment
- Revenue saved due to expiring tax subsidies
- Press Release Former Pennsylvania Governor Edward Rendell Calls for Port, Waterway Strategy in Speech to American Association of Port Authorities Read More
- Press Release BAF Educational Fund Releases Infrastructure Report: Falling Apart and Falling Behind Read More
- Published Report An Economic Analysis of Infrastructure Investment Read More
Our nation is expected to grow by 100 million over the next 30 years.